Cryptocurrency Market Update

Friday brought some ‘hopium’ to the cryptocurrency market as Bitcoin (BTC) surged towards the $84,000 level, eventually trading at almost $85,000.

The optimism seems to invigorate the market, particularly with BlackRock, now a major player in the crypto space due to its IBIT Bitcoin ETF, beginning to buy again.

As revealed by Arkham Intelligence, BlackRock recently acquired $25 million worth of Bitcoin from Coinbase Prime. This fresh injection comes after weeks of outflows from IBIT and other Bitcoin ETFs, providing a sense of relief for investors.

> BLACKROCK IS BUYING BITCOIN
> BLACKROCK JUST RECEIVED $25M OF $BTC FROM COINBASE PRIME
> THEY NOW HOLD $47.47B OF BITCOIN
> — Arkham (@arkham) March 14, 2025

Fridays often see a rise in financial markets, but this is noted only if there are no looming concerns over the weekend. Currently, the sentiment among crypto enthusiasts appears predominantly bullish yet cautious.

Bitcoin, Tariffs, and Fear

Recent fears arose from mounting concerns regarding the ‘tariff war’. However, additional tariff-related news seems to have minimal impact. Notably, Bitcoin has tested the $80,000 mark multiple times without breaking lower, indicating resilience.

Conversely, any signs of progress on the trade front could incite a significant dip, potentially by $5,000 or more. Nevertheless, analysts generally believe the market is more inclined towards an upward trend.

There’s ample reason for optimism, particularly with Saylor’s $21 billion offering. If successful, it could dramatically change the dynamic. Historically, markets tend to move swiftly once fear subsides, and it seems they are currently in a holding pattern, waiting for a catalyst to drive movement.